New Delhi: In a major push towards financial inclusion and women’s empowerment, the Life Insurance Corporation of India (LIC) has signed a Memorandum of Understanding (MoU) with the Ministry of Rural Development to expand the scope of its flagship Bima Sakhi Yojana for rural women.Â
The MoU was formalised during the National Conclave on Financial Inclusion—Anubhuti, held in Goa.
Empowering Women Through Insurance
The partnership aims to expand the reach of the Bima Sakhi Yojana to provide income and career opportunities to women in rural India. The scheme enables women to become LIC agents, offering them stipendiary support along with regular agent benefits.
Under the program, selected women receive a monthly stipend of Rs 7,000 in the first year, Rs 6,000 in the second year, and Rs 5,000 in the third year, provided they meet certain performance criteria.Â
In addition to financial support, Bima Sakhis gain access to the full suite of rights and incentives available to regular LIC agents.
Alignment with National Rural Livelihoods Mission
The initiative aligns with the Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY–NRLM), which promotes income generation and self-reliance among rural communities. Through this collaboration, LIC and the Rural Development Ministry aim to deepen insurance penetration while enhancing livelihood options for women.
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